The discipline mid-size companies have developed since the financial crisis to maintain and grow cash reserves bodes well for future growth. That’s one takeaway from a new American Express/CFO report, which surveyed 325 senior finance executives about their top financial challenges.
“The stop-and-hold mentality of the recession has loosened up,” said Robert Clarkson, vp and general manager for American Express Global Corporate Payments. “Spending is moving toward growth-oriented goals, such as improvement in systems, software, anything that will help grow the business.”
Hiring is also on that list, he said. “Certainly, hiring is a growth-oriented investment, as well. Many of the customers I’m dealing with are talking about bringing in people with certain expertise.”